How taxes flow and how much more our state budget spends is currently closely watched information. In a situation where it is known that the state wants to intensively borrow, among others: to expand the army's potential, each data from the next month may determine the interest rate at which this debt will be repaid.
Budget deficit after April 2026 it amounted to PLN 89,294.3 million — according to estimates of the Ministry of Finance, published on the ministry's website. A year earlier, there was a loss of PLN 91.4 billion, so we could talk about progress if these were not such large amounts and so different from state revenues.
Budget revenues
AND budget revenues amounted to PLN 187 billionwhich constitutes 28.9 percent. year-round plan. A year ago in the same period, revenues amounted to PLN 176,399.4 million, so it is improvement by 6%. rdr.
Indirect taxes (VAT, excise duty and others) increased by 2.8%. so below the April inflation rate. From this excise tax revenues increased by 7.7%. up to PLN 29.6 billion. This is the result of an increase in the tax on tobacco products.
Budget expenditure
The disadvantage in state finances is, of course, due to the fact that expenses exceed revenues. Government spent PLN 276 294.5 million from January to Aprilrealizing 30.5 percent annual plan. This by 3.2 percent more than this position in the same period last year. Taxes, as you can see, grew faster than expenses.
The state spent PLN 23,505.9 million on debt servicing. A year earlier it was PLN 14,659.6 million and this was the highest increase in costs in the budget (+60.3% y/y). As debt increases and interest rates remain the same, this will be an increasing burden on state finances.
On Friday, the yield on 10-year Polish bonds was 5.954%, which corresponds to the cost of taking out such debt in PLN. The day before it was 5.794%, and a year ago on May 15 – 5.401%.
The budget result of European funds was negative and amounted to PLN 11.3 billion. A year ago, in the same period, our settlements with the EU were “only” minus PLN 1,862.9 million.
